Jacqui Safra, a billionaire and owner of Encyclopedia Britannica, is embroiled in a legal battle with Christie's Auction House over the sale of his art collection, including valuable letters by Albert Einstein. Safra claims Christie's sold the artwork at drastically low prices, resulting in a loss of $37.5 million, as they dispute a $63 million advance that he allegedly defaulted on. The letters, expected to fetch $1.3 million to $2 million, sold for just $432,000. Safra argues he has repaid $45 million of the advance, with ongoing concerns about the handling of his collection.
Albert Einstein's love letters are at the center of a legal dispute between Christie's and billionaire Jacqui Safra, involving claims of wrongful sales and default.
Jacqui Safra alleges that Christie's sold off much of his art for 'fire sale' prices, including Einstein's letters that significantly undersold their estimated value.
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